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Bank Law

Banking law is a mixed branch of law that regulates the legal business and transactions, duties and obligations of banks and similar institutions. Banks, which are of great importance for the continuity of the economic system, although they are commercial businesses, also provide public services and are linked to many areas such as commercial law, law of obligations, enforcement bankruptcy law and even criminal law. As a matter of fact, in the Banking Code No. 5411, in which banking law is regulated in our country, it is stated that the provisions related to banks in private laws are reserved and in cases where there is no provision in this Law, it is stated that general provisions will be applied.

The purpose of the Banking Code No 5411, as stated in the first article; to regulate the principles and procedures for ensuring trust and stability in the financial markets, operating the credit system effectively, and protecting the rights and interests of account owners. The code includes the operation of banks, the responsibilities of officers and employees, as well as criminal sanctions heavier than imposed on merchants. The Banking Regulation and Supervision Agency (BDDK), an independent institution, has been authorized for the regulation and supervision activities to be carried out within the framework of the Banking Code  and related legislations.

As an example of disputes related to banking law; we can count issues such as  lawsuits arising from mortgage and secured transactions, loan contracts, leasing and factoring transactions, corporate finance and supervision and many issues requiring legal knowledge and experience, such as the execution of legal transactions falling within the jurisdiction of institutions and organizations under Banks Association, Stock Exchange Commission, Banking Regulation and Supervision Agency etc.

Önal & Önal Law Office provides legal support and consultancy to its clients in the execution of all kinds of transactions related to banking law.